Interest Quiz 2 for SSC Exams

3 years ago .

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If you are preparing for SSC, Railways Exams and other Competitive Recruitment or Entrance exams, you will likely need to solve a section on Quant. Interest Quiz 2 for SSC Exams will help you learn concepts on important topics in Quant – Simple & Compound Interest. This Interest Quiz is important for exams such as SSC CGL, SSC CHSL, SSC Stenographer, Railways RRB NTPC.

Interest Quiz 2 for SSC Exams –

Que. 1

In certain years a sum of money is doubled itself at 6.25% simple interest p.a then the required time in years will be?

1.

12.5

2.

16

3.

8

4.

\(10\frac{2}{3}\)

Solution

Answer:

Given, In certain years a sum of money is doubled itself

Let the time required and principal be t years and Rs. p respectively.

Sunita borrowed Rs. 800 at 10% rate of interest He repaid Rs. 400 at the end of the first year. What is the amount required at the end of second year to discharge his loan which was calculated at simple interest?

1.

480

2.

528

3.

880

4.

676

Solution

Answer:

We know that:

\(\left\{ {SI. = \frac{{P \times R \times T}}{{100}}} \right\}\)

Where,

S.I. = Simple interest

P = Principle

R = Rate of interest

T = Time period

Since this question is based on loan so we will calculate interest on whole principal for all time and then divide it into EMIs.